Systems And Methods For Providing Group Accounts

Abstract

The invention includes a system and method to provide a group account in the form of a financial fund, and implemented by a tangibly embodied computer processing system. The group account is maintained on the computer processing system. The method may include maintaining, by the computer processing system, the group account, and the group account being associated with a plurality of customers who each have selective access to the account, such selective access determined by a rule set disposed in the computer processing system, each of the plurality of customers having an interest in the group account. Processing may include the computer processing system (1) inputting credentials from one of the plurality of customers in a session; (2) comparing the input credentials with the rule set to determine access to the group account to be provided to the customer; (3) generating, based on the comparing, a graphical user interface presenting the customer with access options; (4) outputting the graphical user interface, with the access options, to the one of the plurality of customers; (5) inputting, from the one of the plurality of customers, a selection of one of the access options; and (6) performing processing in response to the selected access option.

1 . A method to provide a group account in the form of a financial fund and maintained by a financial entity, the method implemented by a tangibly embodied computer processing system, the group account maintained on the computer processing system, the method including:
 maintaining, by the computer processing system, the group account, the group account associated with a plurality of customers who each have selective access to the group account, such selective access determined by a rule set disposed in the computer processing system, each of the plurality of customers having an interest in the group account, the group account constituted by a single account in the form of a single financial fund; and   the computer processing system:
 receiving credentials from one of the plurality of customers in a session; 
 comparing the input credentials with the rule set to determine access to the group account to be provided to the customer, wherein the input credentials are mapped to the rule set, the rule set determining, based on the input credentials, which graphical user interface to generate and which access options to provide; 
 generating, based on the comparing, the graphical user interface presenting the customer with the access options; 
 outputting the graphical user interface (GUI), with the access options, to the one of the plurality of customers; 
 receiving, from the one of the plurality of customers, a selection of one of the access options; 
 performing processing in response to the selected access option; 
 receiving, from the one of the plurality of customers, a note describing a transaction performed by the one of the plurality of customers, wherein the GUI (1) displays a transaction history of the group account and (2) interfaces with the one of the plurality of customers to receive the note describing the transaction via the GUI after the transaction has been recorded in the transaction history by the financial entity maintaining the group account; and 
 outputting to the graphical user interface the note describing the transaction such that each of the plurality of customers associated with the group account can review the note describing the transaction. 
   
     
     
         2 . The method of  claim 1 , the plurality of customers consisting of one primary customer and a plurality of participant customers, and the primary customer being provided the ability to control the access to the group account. 
     
     
         3 . The method of  claim 2 , wherein access afforded each of the respective participant customers is subject to particular limitations, such particular limitations not applied to the primary customer. 
     
     
         4 . The method of  claim 2 , wherein the access includes both access to information and access to processing tasks. 
     
     
         5 . The method of  claim 4 , wherein:
 the access to information includes access to balance information; and   access to processing tasks includes the capability to transfer monies to and from the group account.   
     
     
         6 . The method of  claim 2 , wherein the group account is associated with at least one permanent account of the primary customer, in that the permanent account has no planned close. 
     
     
         7 . The method of  claim 6 , wherein the group account is temporary in that the group account is associated with at least one event to trigger close of the group account. 
     
     
         8 . The method of  claim 7 , wherein the at least one event to trigger close of the group account is a predetermined date in the future. 
     
     
         9 . (canceled) 
     
     
         10 . The method of  claim 7 , wherein the at least one event to trigger close of the group account is a predetermined fund amount, such that the group account closes upon the achievement of such predetermined fund amount. 
     
     
         11 . The method of  claim 7 , wherein close of the group account is predetermined to be associated with a funds transfer between the group account and the permanent account. 
     
     
         12 . The method of  claim 1 , wherein the group account, the plurality of customers, and the rule set are maintained in the form of information stored in a record on the computer processing system. 
     
     
         13 . The method of  claim 12 , wherein the computer processing system, based on the information, allocates funds upon close of the group account, to each of the plurality of customers. 
     
     
         14 . The method of  claim 13 , wherein the allocation of funds is based on documented contributions of each respective customer, such documented contributions being stored in records in the computer processing system. 
     
     
         15 . The method of  claim 12 , wherein the computer processing system, based on the information, performs a transfer of access rights from a primary customer to a backup primary customer, upon the primary customer being terminated as a group account customer. 
     
     
         16 . The method of  claim 1 , wherein the computer processing system tracks monetary contributions of each group account customer associated with the group account. 
     
     
         17 . The method of  claim 16 , wherein the tracking of monetary contributions of each group account customer includes the computer processing system requiring documentation in conjunction with any deposit to the group account. 
     
     
         18 . The method of  claim 1 , wherein the computer processing system tracks monetary withdrawals from the group account, and wherein a monetary withdrawal in excess of a predetermined threshold amount requires authorization from two group account customers. 
     
     
         19 . The method of  claim 1 , wherein the credentials are in the form of a user name and password. 
     
     
         20 . The method of  claim 1 , wherein the session includes the computer processing system interfacing with the at least one customer over the Internet. 
     
     
         21 . The method of  claim 1 , wherein the computer processing system is in the form of a bank platform maintained by a bank. 
     
     
         22 . A system to provide a group account in the form of a financial fund and maintained by a financial entity, the system in the form of a tangibly embodied computer processor, the group account maintained on the system, the system comprising:
 a group account database that maintains the group account, the group account associated with a plurality of customers who each have selective access to the account, such selective access determined by a rule set disposed in the group account database, each of the plurality of customers having an interest in the group account, the group account constituted by a single account in the form of a single financial fund; and   a group account processor in the form of a computer, the group account processor:
 receiving credentials from one of the plurality of customers in a session; 
 comparing the input credentials with the rule set to determine access to the group account to be provided to the customer, wherein the input credentials are mapped to the rule set, the rule set determining, based on the input credentials, which graphical user interface to generate and which access options to provide; 
 generating, based on the comparing, the graphical user interface (GUI) presenting the customer with the access options; 
 outputting the graphical user interface, with the access options, to the one of the plurality of customers; 
 receiving, from the one of the plurality of customers, a selection of one of the access options; 
 performing processing in response to the selected access option; 
 receiving, from the one of the plurality of customers, a note describing a transaction performed by the one of the plurality of customers, wherein the GUI (1) displays a transaction history of the group account and (2) interfaces with the one of the plurality of customers to receive the note describing the transaction via the GUI after the transaction has been recorded in the transaction history by the financial entity maintaining the group account; and 
 outputting to the graphical user interface the note describing the transaction such that each of the plurality of customers associated with the group account can review the note describing the transaction. 
   
     
     
         23 . A method to provide a group account in the form of a financial fund, the group account maintained by a financial entity, the method implemented by a tangibly embodied computer processing system, the group account maintained on the computer processing system, the method including:
 maintaining, by the computer processing system, the group account, the group account associated with a plurality of customers who each have selective access to the account, such selective access determined by a rule set disposed in the computer processing system, each of the plurality of customers having an interest in the group account, the group account constituted by a single account in the form of a single financial fund; and   the computer processing system:
 receiving credentials from one of the plurality of customers in a session; 
 comparing the credentials with the rule set to determine access to the group account to be provided to the customer, wherein the credentials are mapped to the rule set, the rule set determining, based on the credentials, which graphical user interface to generate and which access options to provide; 
 generating, based on the comparing, the graphical user interface (GUI) presenting the customer with the access options; 
 outputting the graphical user interface, with the access options, to the one of the plurality of customers; 
 receiving, from the one of the plurality of customers, a selection of one of the access options; 
 performing processing in response to the selected access option; and 
   the plurality of customers consisting of one primary customer and a plurality of participant customers, and the primary customer being provided the ability to control the access to the group account;
 receiving, from the one of the plurality of customers, a note describing a transaction performed by the one of the plurality of customers, wherein the GUI (1) displays a transaction history of the group account and (2) interfaces with the one of the plurality of customers to receive the note describing the transaction via the GUI after the transaction has been recorded in the transaction history by the financial entity maintaining the group account; and 
 outputting to the graphical user interface the note describing the transaction such that each of the plurality of customers associated with the group account can review the note describing the transaction; 
   the access afforded each of the respective participant customers is more limited vis-à-vis the access afforded the primary customer, and wherein the access includes both access to information and access to processing tasks, and wherein:
 the access to information includes access to balance information; and 
 access to processing tasks includes the capability to transfer monies to and from the group account; 
   wherein the group account is associated with at least one permanent account of the primary customer, in that the permanent account has no planned close;   wherein the group account is temporary in that the group account is associated with at least one event to trigger close of the group account, and wherein the at least one event to trigger close of the group account is a predetermined date in the future;   wherein the group account, the plurality of customers, and the rule set are maintained in the form of information stored in a record on the computer processing system, and wherein the computer processing system, based on the information, allocates funds upon close of the group account, to each of the plurality of customers, and wherein the allocation of funds is based on documented contributions of each respective customer, such documented contributions being stored in records in the computer processing system; and   wherein the computer processing system is in the form of a bank platform maintained by a bank.   
     
     
         24 . The method of  claim 1 , further including providing a debit card to the plurality of customers associated with the group account to allow the plurality of customers to deposit funds to or withdraw funds from the group account.